Northfield Bancorp (NASDAQ:NFBK) Releases Earnings Results, Hits Expectations

Key Points

• Northfield Bancorp reported a quarterly earnings per share (EPS) of $0.27, meeting analysts' expectations.
• The bank's stock experienced a slight increase, closing at $11.11 with a market capitalization of approximately $464.52 million.
• Institutional investors hold 65.51% of Northfield Bancorp's stock, with several firms increasing their positions in the second quarter.

Northfield Bancorp (NASDAQ:NFBK - Get Free Report) posted its quarterly earnings results on Wednesday. The bank reported $0.27 EPS for the quarter, hitting analysts' consensus estimates of $0.27, Zacks reports. Northfield Bancorp had a net margin of 13.56% and a return on equity of 4.64%.

Northfield Bancorp Price Performance

Shares of Northfield Bancorp stock traded up $0.15 during trading on Wednesday, hitting $11.11. The stock had a trading volume of 208,228 shares, compared to its average volume of 182,596. The firm has a market cap of $464.52 million, a price-to-earnings ratio of 12.92 and a beta of 0.85. Northfield Bancorp has a 12 month low of $9.40 and a 12 month high of $14.39. The business's 50-day moving average is $11.53 and its 200 day moving average is $11.30. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 1.26.

Analyst Ratings Changes

Separately, Weiss Ratings reiterated a "hold (c)" rating on shares of Northfield Bancorp in a research note on Wednesday, October 8th. One equities research analyst has rated the stock with a Buy rating and two have given a Hold rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $13.00.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. Bridgeway Capital Management LLC grew its position in Northfield Bancorp by 5.7% in the second quarter. Bridgeway Capital Management LLC now owns 248,945 shares of the bank's stock worth $2,858,000 after acquiring an additional 13,322 shares in the last quarter. Empowered Funds LLC grew its position in Northfield Bancorp by 3.7% in the first quarter. Empowered Funds LLC now owns 133,823 shares of the bank's stock worth $1,460,000 after acquiring an additional 4,741 shares in the last quarter. Bank of America Corp DE grew its position in Northfield Bancorp by 3.8% in the second quarter. Bank of America Corp DE now owns 105,058 shares of the bank's stock worth $1,206,000 after acquiring an additional 3,827 shares in the last quarter. Thrivent Financial for Lutherans grew its position in Northfield Bancorp by 43.4% in the second quarter. Thrivent Financial for Lutherans now owns 54,844 shares of the bank's stock worth $629,000 after acquiring an additional 16,586 shares in the last quarter. Finally, First Trust Advisors LP grew its position in Northfield Bancorp by 6.5% in the second quarter. First Trust Advisors LP now owns 30,623 shares of the bank's stock worth $352,000 after acquiring an additional 1,880 shares in the last quarter. Institutional investors own 65.51% of the company's stock.

About Northfield Bancorp

Northfield Bancorp, Inc (Staten Island, NY) operates as the bank holding company for Northfield Bank that provides various banking products and services primarily to individuals and corporate customers. It accepts various deposits products, including certificates of deposit, passbook, statement, and money market savings accounts; transaction deposit accounts comprising negotiable orders of withdrawal accounts, and interest and non-interest-bearing checking accounts; and brokered deposits.

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